Agnico Eagle Mines (TSE:AEM) Price Target Raised to C$350.00

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price target upped by equities researchers at Stifel Nicolaus from C$300.00 to C$350.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 22.40% from the stock’s previous close.

Several other equities research analysts have also recently commented on AEM. Royal Bank Of Canada cut Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. National Bankshares boosted their price objective on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. set a C$337.00 target price on shares of Agnico Eagle Mines and gave the stock a “neutral” rating in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$278.00.

Agnico Eagle Mines Stock Up 0.5%

Shares of TSE:AEM traded up C$1.52 during midday trading on Tuesday, reaching C$285.94. 476,653 shares of the company were exchanged, compared to its average volume of 1,108,509. The firm has a market cap of C$143.56 billion, a PE ratio of 41.80, a P/E/G ratio of 22.97 and a beta of 1.54. Agnico Eagle Mines has a fifty-two week low of C$132.96 and a fifty-two week high of C$305.68. The stock has a fifty day simple moving average of C$256.35 and a two-hundred day simple moving average of C$229.55. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 7.88.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings results on Wednesday, October 29th. The company reported C$3.01 earnings per share (EPS) for the quarter. The firm had revenue of C$4.26 billion for the quarter. Agnico Eagle Mines had a return on equity of 5.05% and a net margin of 12.86%. As a group, sell-side analysts forecast that Agnico Eagle Mines will post 5.4966052 earnings per share for the current year.

Insider Buying and Selling

In related news, insider James Porter sold 3,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of C$247.42, for a total value of C$742,260.00. Following the transaction, the insider directly owned 7,734 shares in the company, valued at approximately C$1,913,546.28. This represents a 27.95% decrease in their ownership of the stock. Also, insider Ammar Al-Joundi sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of C$243.40, for a total transaction of C$4,868,000.00. Following the completion of the sale, the insider directly owned 54,917 shares of the company’s stock, valued at C$13,366,797.80. This represents a 26.70% decrease in their position. Insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.